How to Take Advantage of No Tax on Tips and Overtime
The One, Big, Beautiful Bill (OBBB) has a significant effect on federal taxes, credits and deductions. Millions of taxpayers reported earning tips […]
2026 Business Standard Mileage Rate
The Internal Revenue Service has announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents […]
Guidance on Trump Accounts Announced
The Department of the Treasury and the Internal Revenue Service has issued a notice announcing upcoming regulations and providing guidance regarding Trump […]
Guidance for People Who Received Tips or Overtime Pay in 2025
The Internal Revenue Service have issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax […]
Increased Limits for 401(k) and IRA Plans
The Internal Revenue Service has announced that the amount that individuals can contribute to their 401(k) plans, 403(b) plans, governmental 457 plans, […]
Form 1099-K threshold reverts to $20,000
Recent legislation retroactively reinstated the reporting threshold in effect prior to the passage of the American Rescue Plan Act of 2021 (ARPA) […]
Inflation Adjustments for Tax Year 2026
The Internal Revenue Service has announced the tax year 2026 annual inflation adjustments for more than 60 tax provisions, including the tax […]
Final Regulations for Catch-up Contributinos
The IRS issued final regulations on September 15 addressing the new Roth IRA catch-up contribution rule enacted as part of the SECURE […]
Educator Expense Deduction
It’s back to school season, and with that comes potential out-of-pockets costs for educators. The Educator Expense Deduction lets eligible teachers and […]
Spotlight: Individual Deductions
Last month we took a look at all of the changes introduced by the passage of Public Law 119-21 (commonly known as […]